Company Updates

Westchester Real Estate and the New Tax Law

The real estate market in Westchester County, home to one of the country’s largest property-tax
burden, has been on a roll. The approval of the tax reform will more likely have an impact on the market since it punishes
residents with even higher costs. The big question is: can the market continue thriving?

Cracks are already forming. The number of closed sales dropped, the second straight quarter. Purchase contracts are down as well. Those might be the first signs that buyers are wavering,
and that prices may need to adjust to reflect the now-higher
costs of owning a home in the well-to-do suburbs.

Right now everyone’s calling their accountant….. yes, we did it too. We found no answers because the IRS has not been able to create the guidelines to implement the new law.  The situation gets more complicated when we include the Co-op corporations since they have very large underlying mortgages, and nobody seems to know how those will be treated when it comes to taxes and the pass-through effect that will end up affecting the home owner’s pockets.

We would be surprised if this doesn’t apply some downward pressure on the higher side of the
market. We could see a period of indecision on both the sellers and buyer’s side. Buyers will be looking for a formula that allows them to afford their home.

 

In real estate one amenity is king….. LOCATION.  Those of us who love this wonderful county of ours, those who enjoy the proximity to NYC and all the wonderful amenities Westchester County has to offer are going to need to grab our calculators and make sure we run our numbers properly. At the end of the day a change in the tax code is not likely to discourage people from making decisions that are basically lifestyle decisions. People need to live somewhere and more likely we are going to live close to our jobs  and send our children to the wonderful school districts we have. There are going to be adjustments in the market but we don’t know the real impact yet.

At GioHomes we are here to help. To us what really matter is what our client’s needs. How can we maximize their earnings and/minimize their loss? How can we help them transition in a seamless manner.

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At GioHomes we make your goal our goal

GioHomes’ Team Celebrating the Holidays

GioHomes Real Estate is a local real estate company founded in 2006 based on a philosophy of customer satisfaction. We believe that success in real estate only comes from understanding the client’s needs and satisfying them. We abandoned the corporate premise of quantity and embraced the concept of quality.

Long gone are the days when the information was in the hands of few. The internet and social media now opens the door to the endless possibilities for buyers and sellers. It has empowered small businesses like GioHomes to step out of the old structure and create a more transparent and efficient market.

Years of experience, training, and ongoing education give us the tools to offer prospective buyers and sellers an alternative in a market that was once dominated by large corporations. GioHomes offers opportunities where buyers and sellers are no longer a number in the chaos of politics and paperwork but rather a voice that demands to be serviced.

Please let us know how we can help you.

GioHomes Real Estate LLC.

914-946-1067 – info@giohomes.com – www.giohomes.com

In the picture Lloyd Mascarenhas, Michael Turner, Annette Zito, Phyllis Marcus (legal counsel), Giovanni Gonzalez and Vivian Chen.

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What’s it like to be a Realtor?

Giovanni GonzalezAt first glance, becoming a professional Realtor seems exciting – you get to present stylish and luxurious properties, helping buyers and their families find the ideal home.

Many don’t realize being in real estate can also be very stressful – you’re entrusted with one of the biggest transactions in someone else’s life, so there’s often very little room for error.

In case you’re thinking about a career in real estate or simply curious about how it’s like to work as a Realtor, here’s a look at some facts about the profession you may or may not know about:

  • The degree of difficulty and how long it takes to get a real estate license varies in each state. Every state has different licensing laws and requirements, which can also change over the years. Knowing what each state requires will give aspiring Realtors a good idea of what to expect, and will also save them plenty of time.
  • You may be your own boss, but that doesn’t exactly mean freedom. A Realtor may be in charge of his or her own hours, allowing them to work from home most of the time, but don’t forget: most of their customers have regular nine-to-five jobs. That means Realtors often have no choice but to work in the evening and during the weekends for open house tours.
  • Being a Realtor means playing multiple roles. There are a lot of emotions involved with buying or selling properties, so you’re responsible for counseling your clients and helping navigate them towards the right direction. At times, you’ll need to serve as their educator, counselor, life coach, financial advisor, and maybe even their babysitter.
  • Success depends on a variety of factors. The housing market is affected by many different factors, such as the time of the year, employment outlook, and the stock market. Slow seasons are the worst – competition is difficult, with different agents going after the same clients. On the other hand, a booming market can also be very challenging with too many buyers going after few properties and too many agents chasing after few prospective home sellers. Perhaps success in real estate sales only comes with excellent service, knowledge, consistency and the commitment to always serve the client’s best interest.
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Move-in ready White Plains home for sale for $575K

This lovely, newly renovated Colonial at 302 West Post Road is well worth a closer look. Stop by the open house on October 24 (Saturday) – this 4BR/3BA charmer just might be the home of your dreams!

302 West Post Rd.

Updated features

Boasting a ton of new features, the house has been brought thoroughly up-to-date inside and out, top to bottom. Its bigger than you think – the estimated square feet of 1,984 doesn’t include an additional 1,150 sq. ft. of attic and basement space.

  • Check out the bright and airy new kitchen, which has been fitted out with brand new stainless steel appliances. This eat-in kitchen also has granite countertops and plenty of storage space.
  • There’s room for the entire family in the large formal dining room.
  • The first-floor bedroom comes with its own bathroom.
  • On the lower level are the spacious family room, a den/office, storage, and the laundry and utility rooms.
  • On the second level, you’ll find the master suite, which has a walk-in closet.
  • Also on the second level are two more bedrooms and a hall bathroom.
  • The finished attic has a den/office and a roomy entertaining area.
  • Beautiful hardwood floors throughout and a fenced level backyard.

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Unbeatable location

Less than a 10-minute drive from downtown White Plains and Metro North RR, 302 West Post Road has a very convenient location. Just about everything is close by, including:

  • George Field Park, which is no more than a 10-minute walk away.
  • Post Road School, also within walking distance. A K-5 school, it recently celebrated its centennial.

Other open areas and schools as well as places of worship, shops, and service providers are also just a short walk or drive away.

Listing # 4547402
Listing Price: $575,000
# of Bedrooms/Bathrooms: 4BR/3BA
Open House: Saturday, October 24, 11am to 3pm

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Featured Property: 1081 Palmer Avenue, Larchmont, NY 10538

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Get settled in right away in this 2-story raised ranch-style home located along Palmer Avenue in the lovely village of Larchmont in the town of Mamaroneck.

Built in 1966, the house has been extensively renovated with many modern features.

The price of the house is $995,000.

Exterior features

The property consists of a 0.16-acre lot with ample backyard space and trees all around.

The house features brick and vinyl finishing on the exterior surfaces, as well as a fenced level backyard with patio, garden, and parking driveway.

It sits on Palmer Avenue, a tree-lined street that is a short distance to the town center, Central School, and the shopping and dining district on West Boston Post Road / U.S. Route 1.

Interior features

The spacious 2,432-square-feet home has 4 bedrooms, 3 bathrooms, and a new eat-in kitchen with island, granite countertops, and stainless steel appliances.

The lower level includes a family room, office, laundry room, and attached 2-car garage.

The first floor has the kitchen, bedrooms, and master bedroom with walk-in closet, Jacuzzi tub, and separate shower area.

Living areas sport hardwood floors, while bathrooms have elegant above-counter vessel sinks with modern fixtures.

About Mamaroneck

Mamaroneck has been named one of the Best Places to Live in New York for its low unemployment rate and the good quality of life of its residents.

It’s one of the oldest towns in Westchester County, distinguished by its diverse population and picturesque surroundings. It’s also about less than an hour and 30 minutes from Manhattan on the commute.

Mamaroneck is known too for offering extensive residential options including luxury lakefront homes on the Long Island Sound, co-ops, and this featured single-family home.

For more information on this property, contact Vivan Chen from GioHomes Real Estate at (914) 946-1067 to schedule a viewing, or request for additional details.

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